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Vital Metals Limited (ASX: VML) (“Vital”, “Vital Metals” or “the Company”), an advanced stage exploration/development rare earths company, is pleased to report on its activities for the December 2024 quarter, including at its 100%-owned Nechalacho Rare Earth Project in Yellowknife, Northwest Territories, Canada.
Highlights:
- Tardiff MRE total resource tonnage (across all categories) of 192.7 million tonnes at 1.3% total rare earth oxide (TREO), containing 2.5Mt TREO.
- Tardiff is estimated to contain 636,000 tonnes of NdPr (neodymium oxide + praseodymium oxide) and 578,100 tonnes of Niobium (Niobium Pentoxide).
- Niobium will be the focus of more testwork for improving recoveries.
- Incorporating all latest drill data in the updated MRE, compared to the April 2024 MRE, it delivers:
- 70% increase in reported tonnes in the Indicated Resource category;
- 56% increase in reported tonnes in Measured + Indicated Resources categories;
- 2% increase in contained NdPr;
- Niobium (Nb?O?), hosted within the same geological formations which host Tardiff’s rare earth mineralisation, reported for the first time.
- Updated MRE is reported above a 0.7% TREO cutoff grade instead of a metal equivalent value previously used.
- Vital will use the updated Tardiff MRE as the basis for a Scoping Study to examine the size and scalability of future Rare Earth Element (REE) production scenarios. This is expected in the coming weeks.
- Vital stakes more than 25km² (2,500ha) of ground immediately north of Nechalacho, expanding its footprint at Nechalacho to more than 75km² (7,500ha).
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